P
property owner
New Member
It used to be that properties rose in value after a country joined the EU on the basis that they accessed EU funding to improve infrastructure. However, of the last 3 countries to join the EU (Romania, Bulgaria and Cyprus) Bulgaria has certainly been the first to experience a large foreign investment in 'holiday properties' on the coast and in the ski resorts and then a glut of supply over demand. This has resulted in a cut in prices as owners seek to reduce their exposure. This has created an opportunity for savvy investors to get into the market at what they perceive to be the bottom of the market. The nationalities taking most advantage of this appears to be both the home nationals along with the Russians. This is my experience. Interestingly, Turkey is the next country to seek membership of the EU and access to Turkey is through Bulgaria. Turkish property prices have been rising. Is this another bubble about to burst? I wonder what impact this will have on Bulgaria? I would be glad to hear from anyone on their insights on where things will go from here.
